Medtronic (MDT - Get Report) shares were down 0.4% Tuesday morning after analysts at Goldman Sachs initiated coverage of the stock with a "neutral" rating and $87 price target that is a slight upgrade over the stock's previous closing price of $84.14.
While the firm is bullish on the competitive advantage the company's portfolio affords it, the uncertainty surrounding healthcare will make it hard for Medtronic to execute its long-term growth plans.
The firm believes the manufacturer and seller of device-based medical therapies can improve margins through cost saving programs and trimming some of its portfolio.
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